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Estimating demand by using multiplicative seasonal model

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4.27 George Kyparisis owns a company that manufactures sailboats. Actual demand for George’s sailboats during each of the past four seasons was as follows: EARLPMKM
SSSEA 1 2 3 4

YEAR
SEASON 1 2 3 4

Winter 1,400 1,200 1,000 900
Spring 1,500 1,400 1,600 1,500
Summer 1,000 2,100 2,000 1,900
Fall 600 750 650 500

George has forecasted that annual demand for his sailboats in year 5 will equal 5,600 sailboats. Based on this data and the multiplicative seasonal model, what will the demand level be for George’s sailboats in the spring of year 5?

Pareto Chart Creation and Analysis of the Data

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6.12 Mary Beth Marrs, the manager of an apartment complex, feels overwhelmed by the number of complaints she
is receiving. Below is the check sheet she has kept for the past 12 weeks. Develop a Pareto chart using this information. What recommendations would you make?K GROUNDS
PARKING/
DRIVEANT
ISSUES11111
ELECTRICAL/
PLUMBING
PARKING / TENTANT ELECTROCAL/
WEEK GROUNDS DRIVES POOL ISSUES PLUMBING
1 3 2 1 3 0
2 1 3 2 2 1
3 3 3 2 1 0
4 1 4 1 1 2
5 2 3 4 2 0
6 1 4 2 0 0
7 0 3 2 2 0
8 1 4 2 3 1
9 1 2 1 0 0
10 1 4 2 2 0
11 3 2 1 0
12 2 3 3 1 0

Kitchen business in Palm Beach County

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Scenario:

You have been asked by a close friend, a kitchen design and installation specialist, for some help in setting up a new business. Your friend has inherited a substantial sum of money and has decided to open his own kitchen design and installation business in Palm Beach County, Florida. He intends to focus his marketing based on the age and generational characteristics in his new community. He has asked you to help him find information on Millennials (Generation Y), those people between the ages of 20 and 34, Generation X, those people between the ages of 35 and 49, and Baby Boomers, those people between the ages of 50 and 69.

Question #1: What are three generational insights or characteristics of each of these segments of the population in Palm Beach County, FL?

Question #2: What was the population in Palm Beach County, FL, for each of these segments of the population, in 2010?

Question #3: What was the projected population in Palm Beach County, FL for each of the segments of the population, in 2013?

Question #4: Which of these segments of the population had the greatest change, by percentage, between 2010 and 2013 in Palm Beach County, FL, and are these changes positive or negative?

Critical thinking question: Based on what you have learned in your research into these segments of the population in Palm Beach County, FL, would you recommend that your friend establish a kitchen design and installation business in Palm Beach County, FL? Would you recommend that your friend focus his marketing efforts, including setting up a very expensive showroom, on a particular segment of the population in Palm Beach County, FL? What is your reasoning and, if the response is positive, which segment would you recommend?

Career advice

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You have received an email from a graduating student, the son or daughter of an acquaintance. This young person wants advice: How does he or she get a job like yours?

The student asks, “What do I have to do? What is the most important advice you can give me? Was there an element of luck in your career choice, and your success? If so, can you explain to me what it was?”

Compose the two or three paragraph reply. Be clear, concise, logical and effective. You are free to advise the student to either pursue your career, or to avoid it. Set these paragraphs off in quotation marks.

Following your reply, explain exactly you think it is effective.

Horse Feed Mix Planning

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Question: A boarding stable feeds and houses work horses used to pull tourist-filled carriages through the streets of a historic city. The stable owner wishes to strike a balance between a healthy nutritional standard for the horses and the daily cost of feed. This type of horse must consume exactly 5 pounds of feed per day. The feed mixes available are an oat product, a highly enriched grain, and a mineral product. Each of these mixes contains a predictable amount of five ingredients needed daily to keep the average horse healthy. The table below shows these minimum requirements, units of each nutrient per pound of feed mix, and costs for the three mixes.

FEED MIX

Nutrient Oat/lbs Grain/lbs Mineral/lbs. Needed/per day
A 2.0 3.0 1.0 6
B 0.5 1.0 0.5 2
C 3.0 5.0 6.0 9
D 1.0 1.5 2.0 8
E 0.5 0.5 1.5 5
Cost/lb $ 0.33 $ 0.44 $ 0.57

10-1 Solve the problem using excel solver for the optimal daily mix

Developing Mean and Range Chart

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S6.11 Twelve sample, each containing five parts, were taken from a process that produces steel rods. The length of each rod in the samples was determined. The results were tabulated and sample means and ranges were computed. The results were:
DRIVEANT
ISSUES11111
ELECTRICAL/
PLUMBING

SAMPLE SAMPLE MEAN (in) RANGE (in)
1 10.002 0.011
2 10.002 0.014
3 9.991 0.007
4 10.006 0.022
5 9.997 0.013
6 9.999 0.012
7 10.001 0.008
8 10.005 0.013
9 9.995 0.004
10 10.001 0.011
11 10.001 0.014
12 10.006 0.009

a) Determine the upper and lower control limits and the overall means for x-charts and R-charts.
b) Draw the charts and plot the values of the sample means and ranges.
c) Do the data indicate a process that is in control?
d) Why or why not?